BEIJING, Jan 5: China’s per capita GDP will reach $ 3,000 by 2010, a decade ahead of the schedule set by the 2002 Communist Party National Congress, a government think-tank expert said.

An expert with the Chinese Academy of Social Sciences (CASS), Lu Xueyi said the figure would reach $6,000 in 2020 if it maintained the current growth rate. It was also aided by the Chinese currency’s continued appreciation against the US dollar.

The country’s per capita GDP had grown by about $200 annually in the last two years to $2,200 in 2007, he estimated.

China had been in the fast lane in recent years as the nation took two years to raise its per capita GDP to $1,000 from $800 in 2000. It took another four years to reach $2,000.

“The day (of $3,000 per capita GDP) will come sooner than expected, as the current economic growth is faster than the annual average of 7.2 per cent necessary for the realisation of this goal,” an Asian Development Bank economist, Zhuang Jian said.

—APP

Opinion

Editorial

Slow start
Updated 15 Jun, 2024

Slow start

Despite high attendance, the NA managed to pass only a single money bill during this period.
Sindh lawlessness
Updated 15 Jun, 2024

Sindh lawlessness

A recently released report describes the law and order situation in Karachi as “worryingly poor”.
Punjab budget
15 Jun, 2024

Punjab budget

PUNJAB’S budget for 2024-25 provides much fodder to those who believe that the increased provincial share from the...
Budget and politics
Updated 14 Jun, 2024

Budget and politics

PML-N, scared of taking bold steps lest it loses whatever little public support it has, has left its traditional support — traders — virtually untouched.
New talks?
14 Jun, 2024

New talks?

WILL this prove another false start, or may we expect a more sincere effort this time? Reference is made to the...
A non-starter
14 Jun, 2024

A non-starter

WHILE the UN Security Council had earlier this week adopted a US-backed resolution calling for a ceasefire in Gaza...